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Technology Stocks : Electronic Retailing Systems International (ERSI Nasdaq)

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To: Stephen Pilgrim who wrote ()	8/5/1996 9:11:00 PM
From: A.J. Mullen	of 92

I've not seen it installed but it seems very exciting to me. The argument is that it's development will mimic that of the laser scanners that so impressed George Bush five years ago. It enables the (electronic) shelf labels to be directly linked (by wireless) to the same computer system as the scanners. This will eliminate those annoying delays while the checkout person finds an extra employee to scuttle back to the shelves to check the price on the shelf corresponds to that given by the scanner. It also gives the store using it a very useful tool for competing. In one trial a store guaranteed it would beat a competitors prices, and displayed the competitors prices alonside its own. It was able to keep pace with the competitor by sending someone daily to the competition to check prices and reacting immediately. The system fills a gap in the computerisation of these stores. Inventory can be checked on delivery using handheld computers, and out with the scanners, but shelf-stocking is done by hand. Communication b/n labels and computer is two-way and info can be inputted via the labels. If the shelf is depleted, an employee can enter a code at the shelf and order replenishment from the stock room, and, if necessary, order additional supplies. The potential market for this is huge. This system, or something similar, might be established in every store of any size as is the case with laser scanners. there are two other systems in existence, one Canadian, one Swedish. There must be room for all three and possibly some more. The blurb I read gave info on the CEO and the (non-exec) Chairman. They have both been very succesful in the past at founding and/or growing small companies, and then selling them off. Together they put in a large sum of money and own a significant portion of the company. It seems there is more interest in Britain than in the US, probably due to the recent offering. At the moment the UK price is at a premium. There is a 40day moratorium on trading the shares from the UK offering on NAsdaq. Presumably the prices will converge at the end of this period.

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