Rob,
many people here, me included, calibrate all kinds of equipment on regular basis... When it needs calibration..
Your PSU doesn't.
I would like to go back to begining: Please specify exact make and model of multimeter you used to check PSU and what was last date of calibration of said multimeter...
If that multimeter is not at least 4.5 digit and better than 0.05 % accuracy, and calibrated to be sure it's within specs, you might be measuring meter's error..
Even good brands 4000 and 6000 display meters are usually 0.5 %...
Or, you being mechanical engineer,let me use your lingo: you must check vernier calipers with micrometer... Other vernier caliper won't do for check of 0.05 mm accuracy.. With other calipers you can only check for gross error...
Or simply, if error was 0.4 volts, PSU would be surely out of specs and would need calibration.. With what you have now, and if you don't have sufficiently accurate equipment and experience, you'll probably make it worse..
Also, if PSU is brand new, I would leave it alone for few months for initial drift to settle and then worry about making it more precise..
All the best...
Sinisa