Hey Krishna,
The process in SAP that you are referring to here is possible via availability check. You will not need a reservation. The concept of a reservation works on different lines. No OB delivery can happen if you choose reservations.
If you have Av check in place Go to OVZ2 and for the respective "Availabilty check" populate the "Accumul." field with "3". this should reserve the qty. configure the system for Automatic OB delivery wrt SO and that should also enable you to post the goods issue based on what movement type you might want to use.
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