Left-back Marcus Williams and striker Paul Hayes both left Glanford Park on Bosman transfers this week, to join Reading and Preston respectively, with 10 players mulling over contract offers.
Top scorer Gary Hooper, who is still under contract for another season, is also attracting a lot of interest. Neil Lennon, hoping to be confirmed the permanent manager of Scottish Premier League side Celtic this summer, has been a regular at Iron games watching him.
Adkins believes good players moving on is inevitable at a club with the limited resources Scunthorpe have, but is confident of bringing in quality players in their place.
"It's not the end of the world. We have lost big players before and we have replaced them," he told the Scunthorpe Telegraph.
"We can look forward to another season in the Championship and we will work very hard to get a competitive squad together inside the financial restraints we have. This is another massive challenge, but we are in the Championship and are a solvent club that lives within its means."