Is it Possible to automatically update choice column based on multiple YES/NO or Date Column's

I am seeking support for create an automatically update choice column based on multiple YES/NO or Date Column's, so as different stages of the asset shipment is processed that Asset Status Value is Change.

I seek to have a column - Asset Status  - Column Type Choice (4 Choices) (Asset Inducted/Awaiting Transport Docs/Awaiting Collection/Collected)

Process 1 - New asset added to list (Asset Status =Asset Inducted based on the input of an Induction Date in Date Column)

Process 2 - Shipment Created (Asset Status =Awaiting Transport Docs based on Shipment Created either a YES on a YES/NO or again Date Inputted)

Process 3 - Export Completed (Asset Status =Awaiting Collection based on Export Completed YES on a YES/NO Column)

 Process 4 - Export Completed (Asset Status = Collected based on Shipment Collected Date in Date Column)

I'm very new to SharePoint Lists, all/any support is greatly appreciated. I'm looking to provide Continuous improvement to our work procedures.

Many thanks Jammin