Let $(X,\mathcal O_X)$ be a scheme and $\mathcal F$ be a sheaf of $\mathcal O_X$-modules. The concept of stalks $\mathcal F_x$ generalises the concept of the localization of a module at a prime ideal. Now localization of a module can also be done w.r.t. an arbitrary multiplicative closed subset , say $S$ and in such a case, $S^{-1}M=\varinjlim_{f\in S} M_f$.
My question is: Is there a generalisation/analogue of the idea of localisation of a module w.r.t. multiplicative closed set in the context of Sheaves ?