Quotes delayed at least 15 minutes. Real-time quotes provided byBATS BZX Real-Time Price. Market Data provided by Interactive Data (Terms & Conditions). Powered and Implemented byInteractive Data Managed Solutions. Company fundamental data provided byMorningstar. Earnings estimates data provided by Zacks. Mutual fund and ETF data provided byLipper. Economic data provided by Econoday. Dow Jones & Company Terms & Conditions.

This material may not be published, broadcast, rewritten, or redistributed. ©2020 FOX News Network, LLC. All rights reserved.FAQUpdated Privacy Policy

First Trust Advisors chief economist Brian Wesbury and Ladenburg Thalmann Asset Management CEO Phil Blancato discuss the tactics companies are employing to fill vacant jobs.

Followeconomicnews for any length of time, and youll run across the term supply chain sooner rather than later.

If it seems mysterious, it isnt. In fact, its one of the somewhat rare terms in economic and financial jargon that sounds exactly like what it is, as long as you dont interpret it literally enough to include a series of metal hoops looped together.

A supply chain is the network of people and vendors who deliver the parts used in a companys finished product. While its admittedly more complex for a company likeBoeingthat needs components from airplane seats to engines and tires, the concept is no different when applied to a hobbyist who makes, for example, custom birdhouses.

In the latter case, the supply chain might include lumber from Home Depot, nails from Lowes and paint from Target. And it could be disrupted if the closest store operated by one of those companies were to close or it stopped carrying the particular type of wood or paint the birdhouse-maker preferred.

Supply chains typically garner more attention in times of social or economic distress, such as trade wars or disease outbreaks. When the COVID-19 coronavirus outbreak forced the closure of a number of factories in China, speculation mounted about the potential effects on U.S. manufacturers that rely on Chinese suppliers for parts.

CORONAVIRUS CRISIS SHOWS PHARMA HAS OFFSHORED SUPPLY CHAINS

Apple, the tech giant co-founded by Steve Jobs,warnedin mid-February that worldwide iPhone supply would be temporarily limited because factories that had temporarily closed due to the outbreak were ramping up production more slowly than expected when they reopened.

By the same token, when the Trump administration began considering tariffs on cars and car parts in 2018, foreign automakers with plants in the U.S. warned their costs would surge since many of the operations rely on parts shipped from home bases overseas.

Cruise ships with the highest, lowest sanitation scores of 2020

Suspense writer Stephen King unnerved by scrapping of Woody Allens memoir

New York governor declares coronavirus state of emergency

Quotes delayed at least 15 minutes. Real-time quotes provided byBATS BZX Real-Time Price. Market Data provided by Interactive Data (Terms & Conditions). Powered and Implemented byInteractive Data Managed Solutions. Company fundamental data provided byMorningstar. Earnings estimates data provided by Zacks. Mutual fund and ETF data provided byLipper. Economic data provided by Econoday. Dow Jones & Company Terms & Conditions.