Final answer:
Implementing a production plan does not typically include deciding whether to make, buy or lease components. The process does involve controlling inventory, creating a feasible budget, and selecting the best suppliers for materials.
Option D is correct.
Step-by-step explanation:
Implementing a production plan involves several key decisions and steps, but it does not typically include deciding whether to make, buy or lease components. Some of the decisions involve answering questions like what products the firm should produce, how the firm should produce the products using certain production processes, how much output the firm should generate, and what price the firm should charge for its products. Steps that are part of implementing a production plan include controlling inventory, creating a feasible budget, and selecting the best suppliers for materials.
In addition to these steps, businesses must also make strategic decisions such as whether to expand or reduce production, open new factories or sales facilities, hire workers or lay them off, and whether to start selling new products or discontinue existing ones. However, the actual decision-making process regarding whether to make, buy, or lease components is typically made during the design phase, before the implementation of the production plan is set into motion.