Parameterized Inventory?

Hello,

I am provisioning multiple environments that are identical to each other in all aspects except for actual VMs and values of variables. The VMs and variables follow the same naming conventions. I am thinking of creating templates for the inventory file as well as group vars and host vars that can be used to render actual inventory files for individual environments. Has anyone had similar problem on their hands before? If yes, did you come across any best practices or recommended ways to create these parameterized inventories? Any thoughts and suggestions are greatly appreciated.