In model predictive control (MPC), an optimization problem is solved every sampling instant to determine an optimal control for a physical system. We aim to accelerate this procedure for fast systems applications and address the challenge of implementing the resulting MPC scheme on an embedded system with limited computing power. We present the sensitivity-based multistep MPC, a strategy which considerably reduces the computing requirements in terms of floating point operations (FLOPs), compared to a standard MPC formulation, while fulfilling closed- loop performance expectations. We illustrate by applying the method to a DC-DC converter model and show how a designer can optimally trade off closed-loop performance considerations with computing requirements in order to fit the controller into a resource-constrained embedded system.