Shipped is a new Status for tracking Orders that are shipped and waiting for invoicing.
Shipped is used in the MRP Add-Ons. The pictured dialog is updated to read, Filled.
Filled is the status for orders that have been invoiced and are complete. Partial is the status of orders which have been partially invoiced and still have Qtys Open for items.
Big Business 14 updates dialogs to follow this workflow using Status names, which are On Hold or Placed, Released, and Shipped, and Partial or Filled if invoiced, and Closed.