Nuno Espirito Santo is hoping to make signings this close season after Wolves fell in the Europa League.
The Premier League side suffered a 1-0 loss to Sevilla in the quarter-finals on Tuesday after Lucas Ocampos' 88th-minute winner.
Raul Jimenez had an early penalty saved for Wolves, who finished seventh in the Premier League this season.
Wolves head coach Nuno wants to strengthen his squad ahead of the 2020-21 campaign.
"Now it's my work to look at it. It's time to reflect and analyse. If you look at the team that started the game, it's the same, the same like the first season," he told a news conference.
"We made mistakes that we cannot repeat. We need players that can make us stronger. No doubt about it."
Nuno added: "It's not about requests. We don't operate like that. We operate on common sense, we operate on dialogue, and that's what we're going to do now.
"First of all, let's prepare the break. Then let's look at our future and what we need. The club has been amazing. The first season in the Championship was very hard, the second season we were all together.
"It's not about requests, it's about making good decisions that can help us and make us stronger in avoiding mistakes."
Wolves have finished seventh in back-to-back Premier League seasons since returning to the top flight in 2018-19.