Global Manufacturing Corporation is considering outsourcing its production to a third-party supplier located overseas. The company estimates that outsourcing will result in annual cost savings of $500,000 compared to in-house production. However, there are additional risks associated with outsourcing, including supply chain disruptions and quality control issues. Global Manufacturing Corporation's cost of capital is 12%.

Perform a comprehensive risk assessment and financial analysis, considering factors such as cost savings, operational risks, and financial implications, to evaluate the feasibility and potential impact of outsourcing on Global Manufacturing Corporation's profitability and competitiveness.