An electronic price, inventory management and label system, wherein the system comprises: an electronic label system, which comprises at least one base station (102, 104) and electronic labels (120, 122, 134, 136), which are configured to communicate with the base station (102, 104) using two way communication, means for reading remotely readable tags, such as RFID-tags (124, 126, 138), which tags are attached to products (112, 114, 130, 140, 146), wherein a certain electronic label (120, 122, 134, 136) comprises a unique identification code and this code is used to link the certain electronic label (120, 122, 134, 136) to certain product(s) and to remotely readable tag(s) of certain product(s) (112, 114, 130, 140, 146), and the system is configured to detect the number of certain product (112, 114, 130, 140, 146) in a space within a coverage area of one base station or within a coverage area of all base stations by using the means for reading remotely readable tags, and the system is configured to determine the location of these products (112, 114, 130, 140, 146) based on the location of the electronic label (120, 122, 134, 136) linked to the product (112, 114, 130, 140, 146), wherein the means for reading remotely readable tags is configured to use the antenna of the base station of the electronic label system, wherein the system is configured to provide an alarm or notification if the determined number of certain product in the store and/or warehouse is below a predefined limit, and the alarm and/or notification is configured to be provided to an external system and/or handheld device with information about the location of the electronic label (120, 122, 134, 136). an electronic label system, which comprises at least one base station (102, 104) and electronic labels (120, 122, 134, 136), which are configured to communicate with the base station (102, 104) using two way communication, means for reading remotely readable tags, such as RFID-tags (124, 126, 138), which tags are attached to products (112, 114, 130, 140, 146), wherein a certain electronic label (120, 122, 134, 136) comprises a unique identification code and this code is used to link the certain electronic label (120, 122, 134, 136) to certain product(s) and to remotely readable tag(s) of certain product(s) (112, 114, 130, 140, 146), and the system is configured to detect the number of certain product (112, 114, 130, 140, 146) in a space within a coverage area of one base station or within a coverage area of all base stations by using the means for reading remotely readable tags, and the system is configured to determine the location of these products (112, 114, 130, 140, 146) based on the location of the electronic label (120, 122, 134, 136) linked to the product (112, 114, 130, 140, 146), wherein the means for reading remotely readable tags is configured to use the antenna of the base station of the electronic label system, wherein the system is configured to provide an alarm or notification if the determined number of certain product in the store and/or warehouse is below a predefined limit, and the alarm and/or notification is configured to be provided to an external system and/or handheld device with information about the location of the electronic label (120, 122, 134, 136).