How to handle Customers that have minmax levels

We are wondering how others handle customers that sends Sales orders with minmax levels. Currently we take their forecast and load it in our system, so if they send us a PO for 120 for the year and the forecast shows usage of 10 per month that is what we load. They may or may not pull 10 parts each month and if they do not the open SO line lingers out there.
also, the order fulfillment list to fill wants to pull all 10 parts but they may be at the min of 5 and we only need to ship 5 parts.
Does anyone have this issue and if so how does it work for you?
Thanks for any help.

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Create an SO line with 120 qty
Create new release every time when the customer is requesting for delivery.

Forecast Received
SO - 101
Line -1 Qty - 120
Release -1 Qty 120.

Customer asked to ship 5 Qty
SO - 101
Line -1 Qty - 120
Release - 1 Qty 115
Release - 2 Qty 5 (create new release and ship the same)

Thank you for the feedback. Sounds pretty good but was hoping our system had some kind of functionality for that. We are trying to avoid so much leg work because there are several lines of parts that we have on their minmax and we would have to do that manually with every line each week we ship.

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Just wanting to check out there again to see if anyone has a customer that is on minmax and gives you a forecast of what they think they will pull each week so you can load that. What Iā€™m wanting to find out is if you have to go in and manually adjust the forecasted qty each week if they do not pull the exact amount? If so, how do you handle that.
Any help would be greatly appreciated.