Final answer:
The Internet has revolutionized the purchasing process for firms by facilitating the search for the best suppliers and price comparisons, resulting in a more efficient procurement process.
Step-by-step explanation:
The correct answer to the question is b. The Internet.
The Internet has significantly transformed the purchasing function in businesses over recent years. This technological advancement has enabled firms to search for and identify the best suppliers and compare prices with greater ease than ever before. Before the widespread use of the Internet, finding suppliers and conducting price comparisons was a more labor-intensive process often limited by geographical and time constraints. Now, with the benefit of online marketplaces and search engines, companies can quickly locate suppliers across the globe, compare offers, check reviews and ratings, and make informed decisions centered around purchasing. This digital transformation has streamlined the procurement process, leading to cost savings, improved supply chain management, and enhanced competitive advantage.