Building off of yesterday's update, now you can add dynamic tags to an order for all SKUs that are in stock at one or more locations. When you're editing a rule click on the Add Dynamic Tag button and select 'Product SKUs (In Stock at Location)'. Then select the location(s) you want to include from the list below.
This will only match on products that have their inventory tracked by Shopify and have at least one unit of inventory at any of the selected locations.