diff --git a/multi_company_holding_invoicing/models/__init__.py b/multi_company_holding_invoicing/models/__init__.py
index 5bd167e5ec1..4b11d0ddc14 100644
--- a/multi_company_holding_invoicing/models/__init__.py
+++ b/multi_company_holding_invoicing/models/__init__.py
@@ -9,3 +9,4 @@
 from . import sale
 from . import invoice
 from . import model
+from . import stock_picking
diff --git a/multi_company_holding_invoicing/models/sale.py b/multi_company_holding_invoicing/models/sale.py
index f93b609fc30..1f47684dc4f 100644
--- a/multi_company_holding_invoicing/models/sale.py
+++ b/multi_company_holding_invoicing/models/sale.py
@@ -20,30 +20,33 @@ class SaleOrder(models.Model):
         readonly=True,
         copy=False,
         store=True)
-
     holding_invoice_id = fields.Many2one(
         'account.invoice',
         string='Holding Invoice',
         copy=False,
         readonly=True)
-
     invoice_state = fields.Selection([
         ('none', 'Not Applicable'),
         ('not_ready', 'Not Ready'),
         ('invoiceable', 'Invoiceable'),
         ('pending', 'Pending'),
         ('invoiced', 'Invoiced'),
-        ], string='Invoice State',
+    ], string='Invoice State',
         copy=False,
         compute='_compute_invoice_state',
         store=True)
 
     @api.multi
-    @api.depends('shipped', 'section_id.holding_company_id')
+    @api.depends('picking_ids', 'section_id.holding_company_id')
     def _compute_invoice_state(self):
         # Note for perf issue the 'holding_invoice_id.state' is not set here
         # as a dependency. Indeed the dependency is manually triggered when
         # the holding_invoice is generated or the state is changed
+        # Note because the 'picking_ids' field is not stored,
+        # the 'picking_ids.state' is not set here as a dependency.
+        # Indeed, the dependency is automatically triggered when
+        # the state of picking is changed
+        # (see onchange_state method in stock.picking).
         for sale in self:
             if not sale.section_id.holding_company_id:
                 sale.invoice_state = 'none'
@@ -52,7 +55,9 @@ def _compute_invoice_state(self):
                     sale.invoice_state = 'invoiced'
                 else:
                     sale.invoice_state = 'pending'
-            elif sale.shipped:
+            elif (sale.picking_ids and
+                  not sale.picking_ids.filtered(
+                    lambda r: r.state not in ['done', 'cancel'])):
                 sale.invoice_state = 'invoiceable'
             else:
                 sale.invoice_state = 'not_ready'
diff --git a/multi_company_holding_invoicing/models/stock_picking.py b/multi_company_holding_invoicing/models/stock_picking.py
new file mode 100644
index 00000000000..2a8f187636b
--- /dev/null
+++ b/multi_company_holding_invoicing/models/stock_picking.py
@@ -0,0 +1,16 @@
+# -*- coding: utf-8 -*-
+# © 2015 Akretion (http://www.akretion.com)
+# Sébastien BEAU <sebastien.beau@akretion.com>
+# Chafique Delli <chafique.delli@akretion.com>
+# License AGPL-3.0 or later (http://www.gnu.org/licenses/agpl.html).
+
+
+from openerp import models, api
+
+
+class StockPicking(models.Model):
+    _inherit = 'stock.picking'
+
+    @api.onchange('state')
+    def onchange_state(self):
+        return self.env['sale.order']._compute_invoice_state()