In the case where you know you will have the product in stock again in a month or so in the future and you don't want to delete it and at the same time you don't want to display it publicly but still have it in your dashboard:
Go to the description page for that particular product and in the upper right corner see the calendar.
Set the product for availability at a future date. It doesn't matter what you set it for as long as it's in the future. I.e. put it a year out.
When it becomes available simply go back to that product, to to the calendar in the description, and set it to today.
Your product will now be available again for consumers to purchase.