WHEN he took over as manager, the simplest task Billy Davies faced was highlighting the problems Nottingham Forest faced. The hard part was finding a solution.

As he analysed the squad he inherited, it did not take a football mastermind to spot the most significant issue in a squad that was left exposed by Colin Calderwood's policy of keeping things compact.

His predecessor's desire to maintain a tightly knit group of 16 senior players bolstered by a group of talented youngsters was borne out of sound logic and good intentions.

But the rigours of Championship football and a string of injuries had quickly taken their toll, leaving Forest ill-equipped.

It was therefore a surprise to no one that Davies, within a week or two of his arrival, quickly drew up a list of six or seven potential targets for the January transfer window.

Literally every department of the side was included, with potential targets in all areas of the pitch.

The Scot would not have expected to land all the men he had highlighted, but, with the addition of four or five of them, he was confident that Forest would pull clear of trouble.

What ultimately happened, however, was to leave Forest in a precarious position as the club's transfer acquisitions panel conspicuously failed to secure a single new signing.

Davies was too canny an operator to offer any kind of obvious public criticism of the club hierarchy.

While obviously frustrated, the most damning phrase that passed his lips as January became February was the simple observation that loan signings were 'always the second best option'.

When pushed, he would admit that loan signings were not the best foundation on which to build a side capable of securing a Championship future. But, ultimately, this was one area where Davies will have been happy to be wrong.

The manager would often point to 'what happened in January' – meaning, more pertinently, what didn't happen – when injury and suspension began to leave Forest's dressing room looking sparse.

But, while it may not have been his preferred solution, there can be no question that, as a stop gap, the club's loan rangers have played a key role.

For that, Davies deserves significant praise, because the loan market is a very different animal to making permanent signings and the type of player you can attract is normally from a very different demographic.

Forest, of course, already had Paul Anderson and Joel Lynch in their ranks by the time Davies arrived at the City Ground and both have, at various stages of the season, made telling contributions to the club's Championship survival.

Anderson's flying wing play was, in the middle of the season, one of Forest's most dangerous assets, while Lynch's improvement in the final months has been notable, with the full-back demonstrating a previously unheralded crossing ability that has been the catalyst for several vital goals – not least Dexter Blackstock's strike that earned a point at Blackpool last weekend.

But, with the exception of Gary McSheffrey, whose impact was limited by injury – and who is still a potential summer target for Davies – every one of Forest's subsequent loan signings have made a contribution of one sort or another.

Chris Gunter, the Spurs defender, has looked to be one of the most solid, reliable full-backs seen at the City Ground in many seasons. His performances have been unspectacular at times – but that is almost a compliment in a position on the field where defensive awareness and timing in the tackle is as vital as your ability to push forwards.

It is hard to recall a single mistake from the Welsh international, who slotted into the back four on either side, as if he had been there all season.

Lee Camp's performances were frequently spectacular following his arrival from QPR, as he produced heroics in almost every game, prompting Davies to add him to the list of players he wanted to sign permanently during January, despite rumours that the pair had not always seen eye to eye during their time together at Derby County.

Paul Smith's ability has never been in doubt. Unfortunately, the same could not be said of his confidence and, when Iain Turner joined from Everton, his inclusion into the side came at a good time, following a painful drubbing at Burnley, allowing Smith to be given the break from the limelight that he almost certainly will not have wanted, but certainly benefited from.

In midfield Isaiah Osbourne performed in the manner of a player with a Premiership future, coupling a prodigious work-rate and tenacity in the tackle with a neat touch and an eye for a simple pass. He is almost certain to have a Premiership future but Forest might do worse than consider a bid to get him on loan again next season.

But perhaps the most significant addition is one of the men who has been least time of all – in Blackstock.

The striker's contribution, on paper, may seem relatively meagre, given that he has only hit the back of the net twice.

But the powerful front-man's goals earned Forest three points against Bristol City, when it had seemed they may get nothing at all and then the point at Blackpool that ultimately was enough to steer them over the finishing line to safety. And, with his stocky frame and ability to play as a target man – even if that is far from his only function – Blackstock could well top the Davies shopping list for the summer.

Next season, Davies will almost certainly hope to put plan A into place by securing the players, like Blackstock, who he has targeted permanently – or on long-term loan – weeks before the Championship campaign kicks off.

And, given his time again, he would still want to have seen the club sign his preferred options permanently back in January when, at the time, their failure to do so seemed to plunge them into crisis. But, while the loan signings may have been the second best option for Forest, that does not mean they were not important.

Because, without them, Forest would almost certainly be looking at a future in League One.

And that is the kind of problem that Davies would not want to have to solve.