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A reverse action which is also termed as e-auction, sourcing event or e-sourcing is a tool which is been used in the process of procurement of industrial businesses. Reverse auction is nothing but a type of auction wherein the role of the buyer and the seller is been completely reversed and they would have the primary aim to drive the purchase prices downward. But otherwise in an ordinary auction, the buyers would compete to obtain only a good service from the seller. In the reverse auction the one who competes is the seller to obtain the services. Strategic sourcing is in general a procurement process which would continuously improve and re-evaluate the purchasing process of the company. The present day outsourcing of works is a perfect example for this Strategic sourcing where in all the staff and other information are been transferred to other parties. Strategic sourcing in simple words is a single component of supply chain management. E-procurement is a purchase and sale of supplies and other services and procurement though internet and also through various other networking systems like Electronic Data interchange; Enterprise Resource Planning and so many more. There are many types of E-procurement and all these services have their own advantages and disadvantages.