PRODUCTION AND OPERATIONS MANAGEMENT FOR ENGINEERS

Tài liệu thuyết trình tham khảo về dự án ví điện tử cho môn học quản lý sản xuất cho kỹ sư ( IM1023) ĐH Bách Khoa TPHCM (HCMUT ) CT giảng dạy bằng tiếng Anh (OISP) . Tài liệu sử dụng 100% bằng tiếng Anh

UNIVERSITY OF TECHNOLOGY FACULTY OF INDUSTRIAL MANAGEMENT

Production and operations management for

engineers

Assignment report

DESIGN AN E-WALLET SYSTEM

Lecturer: MBA Huỳnh Thị Phương Lan Group 5 – Class CC01- Semester 221

I Introduction 4

II Ideal generation 6

III Customer requirements identification 7

IV Kano Classification 11

V QFD analysis 20

5.1 What is QFD? 20

5.2 QFD for the E-wallet application 21

VI Conclusion 23

I Introduction.

The e-wallet market is one of the biggest swords for Vietnam to move towards a

cashless society It is also considered a highly competitive market, with suppliers

constantly having to come up with new offers to attract and keep customers But on the

positive side, the e-wallet market in Vietnam still has many rooms for development Data

from the State Bank of Vietnam (SBV) shows that, during the period of Covid-19 social

isolation, about 15 million people use e-banking services every month Currently,

Vietnam recorded 30 million online transactions every day (SBV)

As of May 9, 2022, there were 48 non-banking organizations licensed to provide

payment intermediary services, over 90 thousand QR payment acceptance points, and

nearly 298 thousand points of sale (POS) In the first 9 months of 2021 compared to the

same period in 2020, mobile payments increased by 76.2% in quantity and 88.3% in

value; Internet payments increased by 51.2% in quantity and 29.1% in value

According to a report by UOB Bank, PwC Singapore and the Singapore Fintech

Association (FinTech in ASEAN 2021: Digital takes flight), Vietnam ranks third in

ASEAN in terms of capital funding in fintech with US$375 million, equivalent to over

10% of the total value of fintech funds of US$3.5 billion - a record in ASEAN

The bar charts indicate the Market shares among the E-Wallet companies in Vietnam

from 2020 to 2021:

Figure.1

Figure.2

Nowadays, there are various money transfer apps existing on the market such as

Momo, ViettelPay, Zalopay, These apps have many benefits for citizen to use but it

still have some drawbacks For instance, some issues that some reputable apps have met:

 Momo: high withdrawal fee, low discount when purchasing mobile phone cards

 ZaloPay: Lack of utilities, minimize the attempt of transfer money to bank

 ViettelPay: Not support customers transfer money online, awful display, no

interest fees

 FoxPay: Authentication steps usually get errors, connecting bank fees

 VNpay: recharge/withdraw limit

Our new product target is create an E-wallet app finance which allows you to

transfer and receive money faster and safer and also help you pay for every requirement,

everytime and everywhere for free We will try to minimize disadvantages and obstacles

as much as possible to the customers Our ability to join the market share is feasible when

the needs of quick transfer money services are growing annually

II Idea generation.

Fast and authorized transactions are one of the essential needs of the digital world in

the 21st century, therefore, we want to bring you our E-wallet product which is beyond

payments In fact, it’s often easier to obtain an internet connection than a bank account

Nowadays, most rural areas in Vietnam have electricity infrastructure, indeed, the

internet connection will follow as well In contrast, there are just a few banks that have

established their office in these areas Thus, the inclusion and innovation of technology

are at heart of the E-wallet value change

Customers can easily get to their payment within one touch and have no worry

because their account has been strictly secured With the help of advanced technology,

the transactions history and others will be noted by the banks and always recorded for

some bad situations in the future The wide use of E-wallet is the next level of digitizing

the traditional process

However, some regions all over the world might not have an adaptable technology to

acquire and bring E-wallet to their daily life In addition, some serious issues such as

hacking or leaking the information are also cautious with many cases every year

Although some risks are still there, it is worth trying to make our daily life easier and

more comfortable after everything we have to bear out there

III Customer requirements identification.

Customer Requirements Identification is the process of determining what and how a

customer wants a product to perform Customer Needs are non-technical, and they reflect

the customers’ perception of the product Applying into this E-Wallet app project of our

group to research the requirement of customer on the product, we have made a survey

about product features and from that we could make out the satisfaction for the features

performance also the demand of client for this app After collecting and evaluating the

data from the survey, we have developed main features for an app also It would be ready

for us to build a Kano model also the house of quality

 Additional recommended features:

AI application: Nowadays, AI ( Artificial intelligence ) is becoming a trend of the

world with AI tech it would provide a better online shopping experience also online

payments With AI applications, it will provide an easier, safer, and more enjoyable

payment process for the user

Convenient store transaction: Fast transaction at convenient store via QR code

or baking

Available in more regions: Flexibility and could be use at various payment

location

More suitable transfer feature: It would be more convenient for the customer if

app could be used for variety of payment

Server upgrade: Upgrade and maintenance time will be faster, so that customer

don’t need to wait for long time

 From the above survey we can develop main functionalities for our app:

Easy and fast transaction: What prevents most people from using many applications

is its troublesome procedure Making the transaction procedure easier for people to use is

a requirement in order to attract people to using the app Fast transaction time will also

give us an competitive advantage over competitors since

Security: Security is one of the most important aspects of an e-wallet since it's where

people store their money Having a strong security that can protect user accounts from

attackers is a required functionality

Keeping track of spending history and habits: An app that can keep track of

spending history could help users manage their shopping habits

Saving account: A savings account with a good interest rate will attract more users

since it will help them make more money in the long run

Bank/Credit card linking: Having many bank links means that users can make

transactions between many banks with ease Credit cards can also help user made

transactions more easily

For elders: authorized procedure: The app should have authorized procedure for

elderly people to prevent them from accidentally transferring money

Available at ATMs and convenient stores: If it is available at many ATMs or

convenient stores, users can withdraw or deposit money at many places and they could

choose the closest to them

Stability: Stability is an important factor that can affect user experience since not

many people would want to use an application that has lots of crashes and bugs

Giving reminders: A reminder of unpaid bills or debt can be useful to help people be

able to keep track of their payment

Electric bills: The ability to pay electricity bills can attract user since it could help

people to pay their bills without going to the electric company

QR code: QR Code is a fast and secure payment method that should be implemented

to attract users

Promotions: Many promotions can make people turn on the app frequently to check

for promotions It would encourage people to make payment using the app to take

advantage of the gifted coupons

IV Kano Classification.

Definition:

The Kano Model (pronounced “Kah-no”) is an approach to prioritizing features on

a product roadmap based on the degree to which they are likely to satisfy customers

Product teams can weigh a high-satisfaction feature against its costs to determine whether

or not adding it to the roadmap is a strategically sound decision

Apply KANO to product development:

Step 1 Survey design: The primary data will be collected through survey

questionnaires For instance, the questionnaire which was used in Denmark and the UK

contained 53 questions, divided into three parts which involved the respondents’ personal

information as well as opinion

Step 2 Measures: The attributes will be selected to understand the perception of

the respondents, they also represent key attributes of the products that provide functional,

performative and exciting experience The measurement should base on Kano’

Evaluation Matrix

Step 3 Sampling: Because the large number of respondents, the research should

collect data through an e-survey, which is chosen since it is cost-effective, easily

accessible, and quick to obtain responses

Step 4 Analysis: Descriptive analysis was conducted to evaluate the means of

perceived importance for each attribute and to create rankings Each

functional-dysfunctional question pair was analyzed using cross-tabulations and then evaluated

based on Kano’s model

Feature 1:

Easy and fast transaction

Feature 2:

Strong securityand

authorization

Feature 3:

Track yourspending habits

Feature 4:

Provide a saving service

Feature 5: Banks

or cards linking

Feature 6:

Authorized procedure for elders

Customer 32 M M E I M E

Make customers feel more

it will help you manage

Although

it can be profitable,

It will help customers

This is not necessary ifthe old

quick to make customers comfortablewhen their needs are met quickly

confident about the security of personal information, from which they will choose to trust more

your spending easier, but without this function,

it is not a big problem

the interestrate is still low, making customers not too interested

control their spending more clearly and safely

people use their moneybut have to

go through many procedures

as well as use new technology devices

Feature 7:

Available at atm and conveniencestore

Feature 8:

Stable

Feature 9:

Reminderfunction

Feature 10:

Purchase method for bills

Feature 11: QR code for

transactions

Feature 12:

Promotions weekly/monthly

directly through other forms.

Having a stable application will

maintain a larger number of users At the same time help them have many

This function helps users to pay essential expenses on time Help them avoid missing out leading to undesirable consequences

This is quite unnecessary because it takestime to

complete one more procedurewithout too high efficiency

Although QR transactions are quick and convenient, there are many potential risks ofpersonal

information leakage

there are many promotions every week, every month but sometimes do notmeet the needs of customers at the right time

positive experienceswhen using

V QFD analysis.

5.1 What is QFD?

 Quality Function Deployment (QFD) is a structured approach to defining customer

needs or requirements by carefully listening to the “voice of the customer” and

translating them into specific plans to produce products to meet those needs The

“voice of the customer” is the stated and unstated customer needs or requirements

 First developed in Japan in the late 1960s, QFD was brought to the United States

in the early 1980s It gained popularity due to numerous successes in the

automotive industry

 In QFD, quality is a measure of customer satisfaction with a product or service

QFD uses the 7 management tools to identify and prioritize customers’

expectations quickly and effectively Beginning with the House of Quality, the

QFD methodology focuses on the most important product or service attributes or

qualities; these are composed of customer wows, wants, and musts Once you have

prioritized the attributes and qualities, QFD deploys them to the appropriate

organizational function for action Thus, QFD is the deployment of

customer-driven qualities to the responsible functions of an organization.

5.2 QFD for the E-wallet application

In this section we will build a House of quality for the e-wallet application based

on part 3 Customer requirements Identification and part 4 Kano model:

Based on the table above, we can identify 4 customers requirements in relation to

the 12 designed functions:

 Many promotions: Giving a free sales coupon weekly or monthly can satisfy user

requirements for promotions and also promote the usage of the app Many banks

and card links may also influence this function since each bank and card can have

their own promotions

 Wrong transaction handling: The stable attribute can greatly affect wrong

transactions By making the app less likely to crash or malfunction during a

transaction, the probability of that transaction having an error is decreased Other

factors can have an effect on the transaction handling but not as much

 Ability to open a saving account: The app has an option to open a saving account

which will satisfy this requirement

 Security / Authorization: Strong security is one of the functional requirements of

the app and therefore is required to implement Functions such as easy and fast

transactions or QR code for transactions will also affect security

 Bank / Card link: The function to link with many banks or payment services will

satisfy this requirement It will also enable the withdrawal or depositing of money

at many atm or convenience stores

 Elder friendly: A simple process to withdraw or deposit money can greatly affect

the elder usage of the application A reminder function for things such as unpaid

bills would also contribute to making the app usable for elders

 From the QFD we can see that two most popular e-wallet which are Zalopay and

Momo have adapted to most of the customer requirements, however it is still not

very elder friendly and therefore it would give our application a competitive

advantage if focused on that functionality

VI Conclusion.

Using a survey, we have generated 6 customer requirements for our application:

many promotions, wrong transaction handling, security/authorization, elderly

friendly, the ability to open a savings account and bank/card link

Using Kano analysis generated from the customer requirements, we can identify

12 functionalities that help cope with user requirements, which are: easy and fast

transaction, strong security and authorization,track your spending habit, provide a

saving service, banks or cards linking, authorized procedure for elders, available atm

and convenience store, stable, reminder function, purchase method for bills QR code

for transactions, promotions weekly/monthly And from the analysis we can divide

the functions into 6 groups:

 Attractive attribute : Banks or card linking, Available at atm or convenience

store, Reminder functions

 One-dimensional attribute : Easy and fast transaction, Purchase method for bills,

QR code for transactions, Promotions weekly/monthly

 Must-be attribute : Strong security and authorization, Stable

 Indifferent attribute : Track your spending habit Providing a saving service,

Authorized procedure for elders

From the analysis we can conclude that we should focus on the attractive attribute

and must-be attribute to satisfy our customer requirements and help our application

grow Then from the quality deployment function in section 5.2, we can also identify

the customer importance rating of the requirements and the rating of all the

functionalities We could analyze how well our competitor products are made and

developed From kano and QFD analysis, we can develop a prototype for our e-wallet

application which have the following main functionalities:

 Strong security that always required 2 factor authentication

 Stabilize with weekly downtime not more than 3 hours

 Many widely used banks and credit card linking such as Vietcombank

 Available for withdrawal or deposit money at popular convenience stores such as

Circle K

 A reminder functions that can remind users of overdue unpaid bills

Simply put, a Kano Model helps us analyze the key features of a product or service

and how they affect customer satisfaction This way resources can be directed towards