Rangers went into the World Cup break with a 1-1 draw at St. Mirren and are now nine points behind Celtic in the title race.
There are question marks over whether Giovanni van Bronckhorst will be in situ by the time Rangers resume the second half of the season in December.
He believes the break has come at a brilliant time for Rangers given the fact that they are not playing well at the moment.
But Ferguson stressed that there will be no room for error following the break given the kind of fixtures they have to negotiate before playing in the Old Firm derby against Celtic in the new year.
The Rangers legend said on the Go Radio Football Show: “I think it has come at a brilliant time for Rangers as they are clearly suffering.
“I looked at the fixture list when they come back from the break.
“They will play Hibs on a Thursday night in December and then there is a double-header three days apart – one at Aberdeen and one at Ross County before the Old Firm game.
“Rangers need to make sure that they don’t slip further behind.”
Rangers are banking on a number of their injured players being fit by the time the season resumes in December.
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