Swap furniture while maintaining position and rotation

As title states the ability to switch furniture items while maintaining orientation:

Lets say I have a chair that I've placed in an orientation that I like, then one day I happen to get a nicer chair that matches my house theme more. Instead of having to pack my chair, go to my furniture and place the new chair (plus try to replicate the orientation as best as I could). I can simply select the chair (in the furniture edit mode), press a button that lets me swap my chair with any furniture I have (in this case the newer cooler chair), while maintaining the rotation and position of the old chair.