Hi Harish,
Not that i am aware of about the approach u mentioned however In my opinion is not advisable as you need to write the piece of in creation as well as confirmation program. Also you need to suppress standard SAP code at lot of place where at the time of creation or confirmation it checks the SU number in the LTAP_VLENR field. Ur technical team member are the right person to guide / help you in this regard
limitations of 1000 SU's in Bulk --Is this business process restriction as far as i know from SAP standard perspective we are allowed to store No of SU up to 6 character(999999)
in the below example i can have stack height of 99 and stacks of 999 however if you will ask me from real life experience in the warheouse it is next to impossible to manage such a stock with high number of stack and height