Investment casting is a manufacturing process that involves creating a wax or plastic pattern of the desired part, coating it with ceramic slurry to form a ceramic mold, heating the mold to melt out the pattern, and pouring molten metal into the cavity left behind. It allows for the production of complex metal parts with close tolerances and excellent surface finishes. Investment casting is well-suited for low to medium volume production runs and is used for parts that require precision such as pumps, valves, medical implants, and jewelry.