Step 1: Understanding the olfactory system.
The sense of smell is processed by the olfactory system. The olfactory bulb is a structure in the brain responsible for detecting odors and transmitting the sensory information to other parts of the brain.
Step 2: Explanation of the olfactory bulb.
The olfactory bulb is located at the base of the brain, just above the nasal cavity. It receives signals from sensory neurons in the nose and processes the information related to odors.
Step 3: Conclusion.
Thus, the olfactory bulb is the part of the brain responsible for the sense of smell.