PostgreSQL service fails to start on Red Hat Satellite with the following error - could not bind IPv4 address "172.0.0.1": Cannot assign requested address

Issue

• Why does postgresql service fail on Red Hat Satellite 6.10 ?

  Displaying the following service(s):
  rh-redis5-redis, postgresql, pulpcore-api, pulpcore-content, pulpcore-worker@1.service,        pulpcore-worker@2.service, pulpcore-worker@3.service, pulpcore-worker@4.service, pulpcore-worker@5.service, pulpcore-worker@6.service, pulpcore-worker@7.service, pulpcore-worker@8.service, httpd, puppetserver, foreman-proxy
  | displaying rh-redis5-redis                       [OK]                         
  / displaying postgresql                            [FAIL]                       
  / displaying pulpcore-api                          [OK]                         
  / displaying pulpcore-content                      [OK]                         
  / displaying pulpcore-worker@1.service             [OK]                         
  / displaying pulpcore-worker@2.service             [OK]                         
  / displaying pulpcore-worker@3.service             [OK]                         
  / displaying pulpcore-worker@4.service             [OK]                         
  - displaying pulpcore-worker@5.service             [OK]                         
  - displaying pulpcore-worker@6.service             [OK]                         
  - displaying pulpcore-worker@7.service             [OK]                         
  - displaying pulpcore-worker@8.service             [OK]                         
  - displaying httpd                                 [OK]                         
  - displaying puppetserver                          [OK]                         
  \ displaying foreman-proxy                         [OK]                         
  \ All services displayed                                              [FAIL]