Here's an example of the ability to improve the offense without trading or spending for big stars. Not saying all of these should be done, they are options.
The Reds catchers were fourteenth in the NL in OPS. The Reds best hitting catcher, Mesoraco, was thirtieth among major league catchers with 250 PAs in OPS and Hanigan was much lower.
If the Reds could get a .750 OPS starting catcher they would add well over 100 points of OPS right there. If they could get a .725 OPS shortstop they could add 60 OPS points. The simple return to health by Ludwick could easily add 150 OPS points.
Second and third base are also potential areas of pickup, maybe by adding a better backup or a third base platoon.
The bench could easily pick up 100 OPS points. The only guy whose numbers were good is Paul.
These guys could be added by moderate free agent signings and lower level trades. Some pickups could have real salaries, but one year.
Not saying do all of this, just some where smart pickups are available.
Keep the good pitchers. Pay Parra a reasonable wage. Keep Chapman. Spend on pitching, be smart on offense.