To ensure that the work is centralised accurately when changed end for end, this is where the 4 jaw chuck comes into its own.
If only a 3 jaw is available, the nearest that you get is to mark the work and the chuck, and when the work is changed from one end to other, align the marks on the work and the chuck. This should position the work in the same place as it was originally.
Probably, I can be accused of being a micron chaser, but not a very good one, when I use the 4 jaw, as I like to get the work centred to better than 0.0005" (12.7 microns) if possible,.
Years of "fitness for purpose" have blunted my love of absolute accuracy.
Howard