
With Patrick Agyemang out for the next nine months due to an Achilles injury, Carlton Morris and Lars-Jorgen Salvesen are the only contracted strikers on the books.
Debate is likely to take place as to whether Derby need to add a frontman while Agyemang recovers particularly if they have hopes on challenging for promotion next term.
And Phillips believes moving for a striker could well be on the agenda, but not one that will command a huge sum given 10-goal Agyemang will look to carry on where he left off before his injury when he eventually returns.
"I think they'd look at it, but obviously, they're not going to go all out when they know they've got a player there in the making," Phillips told bestbettingsites.co.uk.
"They'll be desperate to get Agyemang back as quickly as they can. So, I don't think they'll want to go out and spend silly money on a striker knowing that he's coming back, and then potentially have an issue when you've got two top, fit strikers challenging.
"Still, it's probably an area they need to address, but maybe that striker could be one that's come out of the Premier League, relegated from the Premier League, they could do with a bit of experience. So, I certainly think Eustace will be looking to add in that area."
Eustace will be backed again in the market this summer after overseeing a hugely impressive season which could yet result in a top six finish although they are outsiders with two games remaining.
They could sell to reinvest with Derby having acquired some top assets in Sondre Langas and Jacob Widell Zetterstrom.
Phillips believes that if an offer of three times their value was on the table, that might tempt Derby into a sale..
"If that's the case that they have to sell before they can invest, then automatically, you're going to look at their most valuable asset," added Phillips.
"Those two players, Langas came in for three and a half million euros, the goalkeeper 2.5 million, and if they can get back triple that, which they could invest in more players, then they might look at it.
"But you don't want to be losing your best players because they've had a good season, they'll be looking to kick on next season, so they're the types of players that would be a big loss, but they'll generate some good income to be able to go and invest and bring in more players.
"Of course, Agyemang, he's going to be out for a while now, he'd probably have been the more obvious sale."