Magento 2 by default come with order status; however, this is very limited.
If you want to automate your daily routine, and significantly simplifies the way you manage orders in the backend section you can install the Custom Order Status extension for Magento 2 by Ulmod.
The module allows you to create unlimited order statuses to automate your daily routine, also provides the ability to inform customers about every change related to the order status.
All created custom order statuses will display at the customer account page informing customers of the order processing progress. Continue Reading