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The Demons had floated the idea of bringing in a star senior player in a deal involving their first-round draft picks, but they are yet to receive any worthwhile offers as day four of the NAB AFL Trade Period comes to an end.
Melbourne was prepared to part with picks two and three (the latter as compensation for losing James Frawley) in a trade for Adelaide superstar Patrick Dangerfield, but the Demons were told in no uncertain terms that he was never on the trade table.
As a result, the Demons will head in to this year's draft in a powerful position, football manager Josh Mahoney says.
"Right now we'd be very comfortable to go to the draft with picks two and three," he told NAB AFL Trade Radio.
Midfielders Christian Petracca and Angus Brayshaw, as well as tall forward prospects Patrick McCartin and Peter Wright are the players who will be around the mark for the Demons' first two picks.
Melbourne is also working with Geelong and Collingwood on completing a three-way deal involving Mitch Clark, Heritier Lumumba and Travis Varcoe.
Under the proposal, Lumumba would end up at the Demons, Clark would move to the Cats and Varcoe would land at the Magpies.
Mahoney said he was hopeful the deal would be done in the coming days.
"We're just waiting on a few things at the moment," Mahoney said.
"There's a bit of a lull because Collingwood and Geelong are trying to do a few other things at the moment.
"Hopefully it all gets worked out in the next couple of days."
The Jeff Garlett trade, which was officially signed off on at AFL House on Thursday afternoon, addresses the Demons' need for a small forward.
But the loss of Frawley to Hawthorn as a free agent, leaves Melbourne thin in its back half.
Mahoney confirmed the Demons were targeting Greater Western Sydney youngster Sam Frost as a replacement by Frawley.
"We're interested in Sam. He's one of those players who we've spoken about who we think could fill that hole now that James has left," Mahoney said.
He also ruled out the prospect of chasing Western Bulldogs veteran Adam Cooney or out of contract Geelong midfielder Taylor Hunt.