How to automatically cancel new order lines for item that has been discontinued

Summary:

There is a common scenario in manufacturing organizations where the production of an item stops but the available inventory is still cleared out by fulfilling orders until stocks last. After the inventory has been consumed, the item can be disabled from being ordered. But how to handle the case where GOP splits the order line when ordered quantity is greater than available quantity and the split line will not be fulfilled since the item is no longer in circulation?

Is there a way to handle this "Item Dropped - Deplete" scenario in Cloud? The split order line for item identified to no longer be in production needs to get cancelled and further orders should not be accepted.