The link below explains the concept of valuated stock in transit a feature in SAP since ECC 6 EHP 5.
http://wiki.scn.sap.com/wiki/display/ERPSCM/Valuated+Stock+is+Transit
It is also possible to have goods issued to customer without immediate ownership transfer.
The technique is mentioned in the link below.
http://scn.sap.com/docs/DOC-48809
Key takeaways:
– When a delivery is PGI’ed the stock moves to in transit and can be viewed using MB5SIT (This a new Tcode). The movement type in question is 687 instead of 601.
– A POD transaction (VLPOD) is run which transfers the ownership to the customer and hits COGS.
This should be useful while handling client requirements.