Multi-stage draw process is an important stamping method to make complex sheet metal parts for automotive industry. Due to complexity, its development is challenging and time consuming. In this study, the multi-stage draw development is modeled as a multi-stage decision making process. Based on sheet metal incremental plastic deformation theory, drawability and failure criteria, a dynamic programming type solution is proposed and demonstrated by FEM simulations on a rectangular geometry with high reduction ratio. Due to the recurrence nature of dynamic programming, the method provides a possibility of automatic process design of multi-stage draw.