Precision forging normally means close-to-final form or close-tolerance forging. It is not a special technology, but a refinement of existing techniques to a point where the forged part can be used parts2cmykwith little or no subsequent machining. Improvements cover not only the forging method itself but also preheating, descaling, lubrication, and temperature control practices.

The decision to apply precision forging techniques depends on the relative economics of additional operations and tooling vs. elimination of machining. Because of higher tooling and development costs, precision forging is usually limited to extremely high-quality applications.