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Created attachment 1161454 [details]
/etc/sysconfig/network-scripts/network-functions patch

Description of problem:
Systemd starts network script to bring up networking sooner than systemd-udev has finished renaming ethernet interfaces. Required interfaces are not found and networking is not functional

Version-Release number of selected component (if applicable):
systemd-208-20.el7_1.6.x86_64
initscripts-9.49.24-1.el7.x86_64

How reproducible:
always on customer's site

Steps to Reproduce:

Actual results:
network: Bringing up interface em1:  ERROR    : [/etc/sysconfig/network-scripts/ifup-eth] Device em1 does not seem to be present, delaying initialization.

Expected results:
<no error>

Additional info:
There was a bugzilla, now closed notabug:
https://bugzilla.redhat.com/show_bug.cgi?id=1060330

Using NetworkManager to bing up interfaces is not an option though.

A simple patch of network-functions (attached) helps.

So this means to backport https://git.fedorahosted.org/cgit/initscripts.git/commit/?id=1f230a3d2e2733e30577c91645005801ab2c0f40

https://git.fedorahosted.org/cgit/initscripts.git/commit/?h=rhel7-branch&id=da83c4e174991b2dedf6ce7f8c490f2d1fbc1d57

Since the problem described in this bug report should be
resolved in a recent advisory, it has been closed with a
resolution of ERRATA.

For information on the advisory, and where to find the updated
files, follow the link below.

If the solution does not work for you, open a new bug report.

https://rhn.redhat.com/errata/RHBA-2016-2456.html

New initscripts old version ``initscripts-9.49.17-1.el7.x86_64`` new version ``initscripts-9.49.41-1.el7.x86_64`` 

Old Systemd Version: 
1. systemd-libs-208-11.el7.x86_64
2. systemd-208-11.el7.x86_64
3. systemd-sysv-208-11.el7.x86_64

New Systemd Version:
1. systemd-libs-219-53.el7.x86_64
2. systemd-219-53.el7.x86_64
3. systemd-sysv-219-53.el7.x86_64

In your case you are using NetworkManager, which is the reason why initscripts does not wait for that device:
Feb 05 11:34:23 dell-per920-02.khw.lab.eng.bos.redhat.com NetworkManager[2694]: <warn> Failed to activate 'em3': Connection 'em3' is not available on the device em3 at this time.

That error is mostly harmless since NM will bring the device up when it appears.