Ferdinand said that he was frustrated by the club's approach to their transfer business, and that they have not been able to sign even their obvious targets.
Manchester United head coach Ole Gunnar Solskjaer has reiterated all summer, that he needed more players in the first-team squad, to make further progress with this side, after finishing third in the Premier League last season.
However, with the window winding to a close, Manchester United have only signed Donny van de Beek from Ajax so far.
Manchester United are still pursuing Borussia Dortmund winger Jadon Sancho, but they have so far been unable to move the German club from their stance of wanting €120m for the Englishman.
Ferdinand said that he found it frustrating when other clubs such as Chelsea have been able to do the number of deals that they have this summer.
Ferdinand fears Manchester United could undo last season's good work
Ferdinand told BT Sport that he feared that Manchester United being inactive in the transfer market could undo the work they did last season, when they finished third in the Premier League.
"What position would you rather be in? I'd rather be in Frank's [Lampard]. Got business done early, got some time in on training pitch and brought in players he wants," Ferdinand said.
"I'd rather be at that end of the spectrum than Manchster United where you are frustrated and don't know where you will continue from.
“The most frustrating thing for United fans is that we have all been aware who their targets were, that's the frustrating element.”
Ferdinand added that the current COVID-19 pandemic could also be a factor in Manchester United struggling to get transfer business down.
"Is COVID playing a part in the financial [side]? At left-back and right wing, where they are looking, the season has started and they haven't been brought in."
“All of a sudden losing to Palace at home ignites the negativity.
“We rewind two months previous, everyone was saying, 'Well done, Ole'. Got them into Champions League position, the club's on this upward trajectory now and two months - because there's not been the signings and a first defeat of the season at home - really changes the picture massively for the club."
Ferdinand also said that irrespective of the transfer business that Manchester United do from here on, the target has to be to finish in the top four in the Premier League again.Published 04 Oct 2020, 12:13 IST