Franklin will miss Sunday's SCG clash against his former club Hawthorn after accepting a one-week ban for his high bump on Gold Coast defender Sam Collins, while Reid is unavailable because of a glute issue.
While that will leave Sydney short on experienced talls up front, Mills has backed the likes of Hayden McLean, who played against the Suns, and Joel Amartey, who was named in Thursday's extended team, to step up.
It will be the first time since round seven in May 2021 that Sydney will take the field without both Franklin and Reid.
McLean certainly stepped up in their absence on that occasion against Geelong at the SCG, bagging his AFL personal-best haul of four goals in a two-point win.
Franklin kicked the first two goals in Sydney's opening-round 49-point mauling of the Suns, but the Swans had 11 other players notch at least one major.
"I think it just brings what they (Franklin's replacement) bring to the team and just play in our system," Mills said on Friday at the SCG.
"Bud's been really good for us and it's unfortunate he's suspended but it's next man up.
"And whoever that is that comes in, I'm sure will play their role and doesn't have to do anything amazing and over the top.
"We've played a lot of footy with Joel Amartey, we've played footy with Hayden McLean so it's a bit different (forward line) but you've also still got constants like Paps (Tom Papley) and Heens (Isaac Heeney) forward."
Midfielder Mills said the absence of Franklin and Reid also potentially offered more opportunities for highly rated 20-year-old key forward Logan McDonald, who kicked two goals against the Suns and is considered by many to be 36-year-old Franklin's successor.
"Definitely, he's developed really well, played really well last week and it's just getting that consistency," Mills said.
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