As seen in the right side of image above, I have seen certain apps do this - asking the user to drag and drop an item to position it, instead of selecting manually and using up and down buttons.
There are some resources here
https://github.com/bauerca/drag-sort-listview
TICE: Experience - Android Drag and Drop List
multithreading - Android - drag and drop - list rearrange - Stack Overflow
I hope we can do this with B4A soon.