Questions Sales Order Shipment that does not update inventory

We have a need to issue inventory to projects via an Inventory Issue, but then ideally manage the revenue side in Sales Orders.  Since we've already issued the inventory to the project and the cost on the project updated, I don't want the sales order shipment to update inventory and create another Inventory Issue.  I know there is a setting on an Order Type to not update inventory.  Problem with that setting for us is that you can't generate shipments against a line - it is all or nothing.  We were really hoping for the sales order to be like a blanket sales order.  We create the lines for each stock item in total that will ship to this project.  As product is delivered, create shipments for the amounts delivered on a day and then the invoice - but not update inventory.  Back order would be allowed so the remaining to ship of that item to that project would keep updating.  If these were non-stock items I think I'd be OK as I wouldn't need to set the type as "no inventory update" - but these are stock items we want referenced and invoiced.  From what I see this can't be done with an order type that doesn't update inventory - but maybe I am missing or misunderstanding something.

I know if we have these items/qtys on the project rev budget it will keep updating that with actual qty, etc. - but really hoping to manage in Sales Order.

Thanks in advance for any feedback or thoughts!