I use OR to form a multiple condition IF ELSE statement on VBA, it’s not working

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Using the line below is incorrect: 

ElseIf (Selection.Value = "hold to console" Or "Hold to console" Or "Allocated 14/12 and ship next day") Then

You need to add Selection.Value = before each condition, see line below:

ElseIf Selection.Value = "hold to console" Or Selection.Value = "Hold to console" Or Selection.Value = "Allocated 14/12 and ship next day" Then

Note: the same applies to all other ElseIfs you have.

Edit 1

However,I would suggest to use the code below. Your code is “screaming” for Select Case. Also, there is no need to Range("AB" & cat).Select and later use ActiveCell, instead you could just use fully qualifed Range.

Code

Dim cat As Long

For cat = 2 To last
    Select Case Range("AB" & cat).Value
        Case " "
            Range("AB" & cat).Offset(0, -2).Value = "-"
            Range("AB" & cat).Offset(0, -1).Value = "-"

        Case "Address in local wording"
            Range("AB" & cat).Offset(0, -2).Value = "Customer"
            Range("AB" & cat).Offset(0, -1).Value = "Incomplete information or awaiting more info from customer"

        Case "hold to console", "Hold to console", "Allocated 14/12 and ship next day"
            Range("AB" & cat).Offset(0, -2).Value = "Depot"
            Range("AB" & cat).Offset(0, -1).Value = "Allotment delay"

        Case "Backorder", "backorder", "Back order", "back order"
            Range("AB" & cat).Offset(0, -2).Value = "Inventory"
            Range("AB" & cat).Offset(0, -1).Value = "Material not available causing backorder"
    End Select

Next cat

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