The present paper studies the reliability analysis of the casting process in foundry work using a probabilistic approach. As foundry industries in many developing countries suffer from poor quality of casting due to improper management, lack of resources and wrong working methods followed, which results in the decrement of productivity. Hence, to ensure the quality and productivity, favorable steps must be taken. The considered casting system has four main types of defects; namely mold shift, shrinkage, cold shut and blowholes. The complete casting system can fail due to the misalignment of the mold and combination of defects such as shrinkage and blow holes and can also fail by defects of shrinkage, blow holes and cold shut, simultaneously. The system is analyzed with the help of the supplementary variable technique and Laplace transformation. The availability, reliability, mean time to failure, sensitivity analysis and cost-effectiveness have been evaluated for the considered system. The results have been shown with the help of graphs, which predicts the behavior of the casting process system when any one of the defect or more than one defect appears.