Overview
David Solomont is a highly experienced professional, with over 40 years proven track record of working in the software, technology, media, gaming and transportation industries.
He has strong professional skills in business development, e-commerce, entrepreneurship, strategic planning, and venture capital.
Solomont invests in early stage technology companies, to which he also provides his advisory services on business development, funding, mergers and acquisitions, and team building.
Solomont is Chairman and CEO at ev Transportation Services, Inc ("evTS"). Moreover, he is the founder of Common Angels, headquartered in Boston, Massachusetts. His company takes pride in being one of the first institutionalized angel groups in the country.
Furthermore, Solomont serves as founding Trustee and past Chairman at Massachusetts Technology Leadership Council.
David Solomont has worked for a number of companies and instituions over the course of the past 40 years. Some of these include: Ventures, L.P., where he served as a founding General Partner; the Museum of Science in Boston, where he served as an Overseer and member of the Information Technology Committee; the Museum of Fine Arts in Boston, where he was a Technology Advisor to the Internet Working Group.
This highly experienced professional has graduated at the Tufts University. There he received a bachelor’s degree in engineering. Moreover, Solomont obtained a master’s degree in management from MIT’s Sloan School.
Services
Non-Fiction
Work experience
ev Transportation Services, Inc ("evTS")
Common Angels
David Solomont is the founder of Common Angels, Boston, Massachusetts, and advises technology companies on business development, funding, mergers & acquisitions and team building
Projects
6 technologies that are revolutionizing the road transport sector
Technological evolution promotes the introduction of these new technologies throughout our environment. The transport of goods by road was not going to be an exception, so in today's post we bring you some of the technologies that are revolutionizing the road transport sector and, more specifically, trucks.
Here, David Solomont, the Chairman and CEO of ev Transportation Services, Inc ("evTS"), will share six technologies that are revolutionizing the transport sector.
What new technologies exist for the truck
Electric trucks
According to Solomont, there are already interesting options for the move towards electric trucks, although the introduction of electric motors for trucks is a more complicated aspect than for other vehicles such as passenger cars. Even so, research in this regard is underway to introduce this technology in the not too distant future.
The electric truck market is expected to reach up to 15% in 2030, as research in this regard progresses more and more.
Platooning
As Solomont specifies, platooning consists of connecting several trucks to each other so that they circulate in a synchronized way. The trucks have automated systems, whereby the truck that is in the lead is the one that directs the others, that is, if the first accelerates the others accelerate.
This technology provides advantages in terms of safety, sustainability, since it reduces the emission of polluting gases and saves fuel.
Cloud-based connectivity
As Solomont indicates, this system allows trucks to communicate with each other through the cloud, sharing data information about the road, incidents, etc. In this sense, the cameras of the truck will be able to detect if the road has changed the speed limit and communicate it to the rest through the cloud.
Autonomous trucks
This new advance already has test drives and has even been implemented in countries like Australia, where they use autonomous vehicles for the mining industry. However, David Solomon share that the US is the country that is investigating the most and making progress on trucks that could circulate alone, allowing their drivers to rest on very long journeys.
Anti-collision technology
The road freight transport industry is also working on another advance related to incidents that occurred to trucks on the road, so, to avoid possible collisions, they are studying how to incorporate 360º cameras and sensors that are capable of anticipating the danger of range warning the driver and even correcting the trajectory or braking automatically.
The revolution of artificial intelligence in logistics
David Solomont indicates that artificial Intelligence is revolutionizing our entire environment with proposals that help us improve in every area of our life. So it's no wonder an artificial intelligence revolution in logistics has started.
Technological advances are having an irreversible impact on all sectors of a company. The intention of applying this new tool is to make processes more efficient and the range of errors is much lower. In this sense, the company reacted according to its demand, with AI, today it will be able to predict its demand and adapt all its resources to that information.
How is a system with artificial intelligence made up?
According to David Solomont, the basis of any automated system is to make decisions based on past experience and act on it. Therefore, they can perform a myriad of automated and personalized operations that they learn from new interactions.
To meet this goal you need to combine three basic elements:
Algorithms
Each algorithm is made up of an ordered sequence of operations to be performed. They must be applied so that the global task is optimally developed according to the conditions that have been taken into account.
Software
David Solomont indicates that thanks to the instructions of the software, it is possible for the hardware to execute the tasks assigned by the algorithm.
Machine learning
This is the new component that brings artificial intelligence systems to life. Because thanks to these developments a machine can learn. That is, to improve their processes according to the analysis of lived experiences.
Systems with Artificial Intelligence that are taking their first steps
Many are the changes that Artificial Intelligence will bring to the logistics of a company. However, some of them are already in testing and here we tell you what they are:
Prediction of consumption preferences
With the great information that can be gleaned from the Internet, it is no surprise that a person's consumption preferences are already known. Currently, valuable data such as the preferred order and payment method and at what time and days we choose to buy are known.
According to David Solomont, the crossing of all this information makes it possible for the advertising to be more personalized and therefore focused on a specific range of the market. In terms of logistics, it helps us to predict demand with little margin for error, which allows us to build anticipatory strategies.
Automatic warehouses
The combination of robotics that is applied in the physical warehouse and in the management software achieves that both the transfer and the placement of the merchandise in the warehouse is automatic and autonomous. The robotic warehouse system saves all the possible routes within the warehouse as a kind of X-ray, to quickly process each movement.
Six strategies to optimize logistics and distribution costs
David Solomont, Chairman and CEO of ev Transportation Services, Inc ("evTS"), will tell you some strategies to lower logistics and distribution expenses. In crisis contexts, such as the one we are going through caused by COVID-19, it becomes more important to reduce logistics and distribution costs.
1. Rethink the supply chain
Having trusted suppliers, producers and distributors helps us enormously. In other words, you have to have the best in your supply chain. In this way, we can work in an orderly manner, reducing unproductive times.
Therefore, Solomont indicates that good planning is essential to improve service. Everything related to loading and delivery points allows us to draw fast routes, to reduce fuel and labor costs. Also, knowing sizes and types of merchandise to be transported serves to make an intelligent selection in the size of the required transport.
2. Establish a data-driven budget
According to Solomont, Having a detailed budget, with its correct administration, is essential. For this, you have to take into account the expenses of your fleet. These are obtained by analyzing data on the use of vehicles and the supply chain in general.
The more information we collect, the more this type of insight based on real metrics will benefit. That is why big data analysis is very important for the sector. In this way, realistic budgets are achieved, lowering costs and optimizing routes.
3. Do a rigorous fleet monitoring
Solomont indicates that a satellite monitoring of your fleet allows you to find points of improvement. The layout of routes, the use of vehicles, or the response to any unforeseen event, becomes more efficient having a control tower.
Control tower to reduce logistics and distribution costs
Solomont notes that this type of monitoring not only shows us the location of vehicles. Advanced functions such as door control, fuel monitoring and security alerts are added. In this way, we will get a better understanding of how our fleet works.
4. Implement a preventive maintenance cycle
As the popular saying goes: “better to be safe than sorry”. Problems must be anticipated and therefore we recommend a systematic review, inspection and maintenance. Any expense that arises from a failure in the route will always be more expensive than that of a repair made on time. This then helps us reduce accidents and costs.
5. Optimize driving habits
There are different ways to drive a vehicle. Some misuse can lead to unnecessary fuel and maintenance costs or cause accidents. Speeding, engine overheating, braking and sudden acceleration are some of the things to avoid. For this reason, Solomont indicates that it is important to transmit to our drivers the best practices to reduce avoidable costs.
6. Use of systems and technology
Different technological systems help us to reduce costs. In general, the analysis of the information generated by the fleet and the warehouse will allow us to become aware of the expenses that can be cut.
David Solomont specifies that, that is why it is important to have specialists in data analysis. On the other hand, it is also becoming a trend to implement management systems that have artificial intelligence. These measure all the information we provide them and help us to draw better conclusions more easily.
5 Strategies for distribution channels in high season
The peak of sales that shops, retailers and wholesalers usually experience, is always accompanied by a great logistics demand. Therefore, there are times in the year when it is necessary to implement new strategies for distribution channels.
Black Friday, Cyber Monday, Christmas, end of the year and even back to school are moments to take into account. In fact, these dates can represent up to 30% of sales. Because of this, David Solomont is going to give you 5 tips so that you do not get caught off guard in logistics.
What are the distribution channels?
But first, we are going to tell you what distribution channels are about. These are the different paths that you have to go through for a product to reach the final consumer from the producer. In other words, we are talking about the different stages a product goes through before being marketed.
As David Solomont has said, the producer or creator of the product is at the beginning. It is then purchased by the wholesaler, who re-sells it to the retailer. It is he who finally distributes the product to the final consumers.
Types of distribution channels
A channel of this style with so many intermediaries, like the one David Solomont has just described, takes the name of an indirect channel. For example, when a producer through a logistics company reaches the consumer.
In addition, there are direct channels. Its marketing journey is much shorter: the producer sells immediately to the final consumer, without actors in the middle. This happens with artisan productions or even cars or clothes, always on a local scale.
Types of strategies for distribution channels
David Solomont defines three different types of strategies for distribution.
Intensive: When the company or the manufacturer tries to reach all possible points of sale. This is the ideal strategy to use if you want to reach a mass audience. For this reason, David Solomont advises you to implement it in basic use products, since the end consumer needs to have them at their fingertips quickly.
Selective: Applies to specific locations, reducing intermediaries to a minimum. In general, with this strategy, you must find exclusive outlets.
Exclusive: A stronger closing is made than in the previous strategy. In this case, the aim is to sell all the production in a single establishment. Its main advantage is that it targets a very specific and reduced audience. This ensures clearer and more targeted sales strategies. Therefore, it is used for luxury products.
