Pardew believes failure to strengthen his team could be the difference between Newcastle retaining their Premier League status or getting mired in a relegation battle.
The Magpies failed to land their priority target Loic Remy when he decided to join Queens Park Rangers even though Newcastle had agreed a fee with Marseille.
Pardew said: "We won't make knee-jerk reactions, but need a player or two to make sure we keep our Premier League status.
"I'm only going on the fact that some of the teams I've put out, in my opinion, haven't been strong enough for Newcastle. That's been caused by an injury crisis.
"It has put the squad under pressure and we can't take a risk. We shouldn't be lost to the fact that we could be relegated.
"I'm experienced enough to know that's an important message for our fans too."
But, despite the disappointment of missing out on Remy, the Magpies manager is adamant the club will not get into any bidding wars to sign players for the sake of it.
Pardew added: "This club's on a financial footing which is strong, but we're still not going to pay silly money."