A method of forming a powder metal compact using a tool set including a die having a die cavity, at least one lower tool member, and at least one upper tool member, wherein the tool set includes an upper inner punch, an upper middle punch surrounding at least a portion of the upper inner punch, and an upper outer punch surrounding at least a portion of the upper middle punch; the method comprising: inserting the at least one lower tool member into the die cavity; filling the die cavity with a powder metal in a first fill step; lowering the at least one upper tool member to define a pre-compaction chamber, wherein the step of lowering the at least one upper tool member to define the pre-compaction chamber includes lowering the upper outer punch; the pre-compaction chamber including a filled section that was filled with the powder metal during the first fill step and an unfilled section that is not yet filled with the powder metal; and filling the unfilled section of the pre-compaction chamber with powder metal in a second fill step via at least one powder feed chute (324, 326) that extends through the at least one upper tool member into the pre-compaction chamber; compacting the powder metal along an axis of compaction to form a powder metal compact; and ejecting the powder metal compact from the die cavity; wherein, during the second fill step, the upper middle punch is in a retracted position to place the at least one powder feed chute of the upper outer punch in communication with the pre-compaction chamber and wherein, during the step of compacting the powder metal, the upper middle punch is lowered such that a surface of the upper middle punch slides past an openings of the at least one powder feed chute (324, 326) to remove the powder feed chute (324, 326) from communication with the pre-compaction chamber. inserting the at least one lower tool member into the die cavity; filling the die cavity with a powder metal in a first fill step; lowering the at least one upper tool member to define a pre-compaction chamber, wherein the step of lowering the at least one upper tool member to define the pre-compaction chamber includes lowering the upper outer punch; the pre-compaction chamber including a filled section that was filled with the powder metal during the first fill step and an unfilled section that is not yet filled with the powder metal; and filling the unfilled section of the pre-compaction chamber with powder metal in a second fill step via at least one powder feed chute (324, 326) that extends through the at least one upper tool member into the pre-compaction chamber; compacting the powder metal along an axis of compaction to form a powder metal compact; and ejecting the powder metal compact from the die cavity; wherein, during the second fill step, the upper middle punch is in a retracted position to place the at least one powder feed chute of the upper outer punch in communication with the pre-compaction chamber and wherein, during the step of compacting the powder metal, the upper middle punch is lowered such that a surface of the upper middle punch slides past an openings of the at least one powder feed chute (324, 326) to remove the powder feed chute (324, 326) from communication with the pre-compaction chamber.