Populate columns based on Location column input/update

I am trying to figure out how to overcome the issue with Location column being not provided as an input in Formula column and automatically update/populate other columns based on its value. One probably obvious idea is to somehow copy the value from the Location column in a text column within the same item and continue from there.
Can I do this copy completely within Monday, and if so, how? Or, please suggest possible ways(s) to do this.
Thank you very much!