The 33-year-old has featured in just two Premier League games in 2014 with Jose Mourinho mainly using Cesar Azpilicueta on the left side of Chelsea's defence.
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"For years people have been understudy to Ashley. Now it's Ashley's turn to sit back," the England manager told reporters.
"We know what Ashley can do. We know how fit he keeps himself, how experienced he is. I certainly wouldn't write Ashley Cole out of any plans because he isn't playing in his club team.
"But he will have to accept, like everyone else, that the competition for his place in the club team and international team gets stronger all the time, and I will have a decision to make.
"It's a bit of a problem when you are a full-back. If you are a midfield player, there might be three or four positions you can play. Full-backs are like goalkeepers - either you play or you have to be understudy."