Yes, the new warehouse functionality in R3 supports functionality to do "containerization". Our company, Blue Horseshoe wrote this as part of what was sold to Microsoft.
You can define product dimensions by unit of measure, and you can also define the dimensional, weight, and percent pack of the cartons/pallet (e.g. containers) for which you want products packed. The tool supports 6 levels of nesting as well I believe, where you can build containers based on other containers. For example, you could pack loose into a container (box), and then build a shipping pallet of those packed containers and say, full case picks.
The baseline logic is volumetric, with dimensional fit. So the system makes certain that the product can fit in the box dimensionally. Then it determines capacity availability be volume.
Blue Horseshoe has also made available some other cartonization strategies in our Advanced WAX product which is above and beyond the functionality available in R3. Examples include nesting of products. Things like bowls that can fit inside one another, so each new one is just incremental, not the full product volume. And different dimensions based on the function. For example, the packing dimension might be different for a breakable item, because we have to put bubble wrap around it to protect it. But when we store it in the warehouse, we don't. So we have different physical dimensions for purpose in the advanced version. Be happy to discuss this further with you. Feel free to contact me at the number below.