In this research, a mathematical model is developed for inspecting multicharacteristic components with multi-classifications in a multistage production system. The characteristics’ defective rates are statistically dependent. The output of the model is an optimized inspection plan. The plan minimizes the total cost per accepted component. A heuristic algorithm is proposed in solving the problem with optimized solutions. The developed model and proposed heuristic algorithm are demonstrated using an example from a medical equipment manufacturing system. The data used in the example are realistic but hypothetical. The model can be modified for solving similar problems in other applications.