The Scottish champions were denied the chance to complete a domestic double after losing on penalties to St Johnstone in the quarter-finals last weekend and Gerrard has demanded a response from his players in the Old Firm derby against Celtic tomorrow (02.05.21).
He said: "The cup situation is not sitting too well with me right now, it's still a little bit raw from St Johnstone.
"It's something that motivates me and I want to challenge everybody to put that right.
"As a club, we are always looking to improve. When the [transfer] window opens, recruitment never stops and we are always looking for targets, to try and support the group so we are better equipped."
Rangers won the Scottish Premiership title for the first time in 10 years this season but Gerrard is frustrated that the team were unable to back up their success in the domestic cup competitions.
He said: "The main focus this season was the league. That's not to say we didn't want to go for everything, because we gave everything we could in terms of a European point of view and I think it was a really respectable performance from the players once again.
"We fell short in the cups domestically and that's on all of us. We'll have to put that right moving forward and we'll strengthen the group when it is the right time to give us a better shot of it next year."