The Sky Blues are closer to the relegation zone than the play-off places at the moment and Dowie is eager to get his side moving in the right direction.
"There is no question I would like to strengthen the team," he told the Coventry Evening Telegraph.
"It is very important that we address the rest of the season with real verve and vigour. We have gone a long time here with a lack of investment in the team.
"With the squad we have got we have been very competitive and with one or two additions, we will be even better than that.
"I am well aware where we want to strengthen with four, five or maybe six players."