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A reverse auction (also called
procurement auction, e-auction, sourcing event, e-sourcing or ERA)
is a tool used in industrial business-to-business procurement.
It is a type of auction in which the role of the buyer and seller
are reversed, with the primary objective to drive the purchase
prices downward. In an ordinary auction (also known as a
forward auction), buyers compete to obtain a good or service.
In a reverse auction, sellers compete to obtain business.
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