The PSV coach saw his side bow out of the competition after a 1-0 defeat to Chornomorets at the Philips Stadion - a loss that came five days after a 6-2 reversal against Eredivisie leaders Vitesse.
The club's exit from Europe is likely to intensify pressure on Cocu and the former Netherlands international claims squad reinforcements will aid his side's performances.
"(In) the technical consultation we will see what we need and what the possibilities are," De Telegraaf quotes him as saying.
Asked if a striker would be high on his list of priorities, he added: "That's one of the things we're looking at."
PSV currently sit 10th in the Dutch top flight and face in-form Utrecht on Sunday as Cocu's men look to win in the league for the first time since October 6.
Cocu claims there is cause for optimism in his side's performances, but believes his charges must be more clinical in front of goal.
"We did quite well, but again we did not score. That can not happen," Cocu said.
"We are creating some great opportunities. On the other hand, we again give a gift away. I'm hurt, because that should never happen.
"The harsh reality is that we are now out of the (KNVB Beker) cup, Europe and (occupy) a spot in the league where we do not belong."
