When a report is scheduled, it schedules successfully. When tried to view the successful instance, it came up with the following message
The number of simultaneous report jobs was limited to 160 by the system administrator. Please try to reconnect later. [RCIRAS0542].
When the server is rebooted the problem got resolved.
We had the same issue again few hours later and rebooting the server has resolved the issue, but looking for a robust and better solution.
Any help is appreciated.