"You always want to make things more competitive with your team and we know that we are not the finished article by a million miles," he admits.
"We will never stop looking; myself and Alan have been going to games as have the scouts and then it comes to whether you can afford them.
"No stone is left unturned but we are not just looking to bolster the squad, we are looking to bring people in to make it better.
"You always think you are near but, although some people think it is a good time to do these things with there being no game at the weekend, you are hoping the quality players you want are on international duty.
"A lot of managers take a couple of days off as well so making these contacts is not easy time-wise, but hopefully we will have something to say soon.
"The downside of it is that on the back end of a bad result there was no game at the weekend and after a bad performance that is what we could have done with."
Peter is hoping those players on international duty return uninjured and adds:
"We hope Carl Fletcher, Andy Melville, Anton Ferdinand, and Nigel Reo-Coker come back okay and unscathed and it is not until Thursday that we can start working specifically towards the Sheffield United game."
Looking back at the loss against Coventry, he says:
"The defeat was unexpected in the sense that we didn't play well; if we had and lost you could hold your hands up and say the performance was good but the result didn't go your way.
"But we were disappointed because after starting okay we just didn't pass the ball well; we created chances later in the game but we left it far too late."
Peter is under no illusions about the task ahead and explains:
"As I say, we are not papering over the cracks; we have won games but not played particularly well yet.
"We had a good spell in the Crewe game for about 70 or 80 minutes - that was our best game - but apart from that we have not fired on all cylinders.
"We have to do that sharply if we want to progress and be right up there to be challenging for the Championship, that's for sure."