The use of industrial robots for machining operations is pursued by industry lately, since they can increase the flexibility of the production system and reduce production costs. However, their industrial adoption is still limited, mainly due to their insufficient structural stiffness and posture-dependent dynamic behavior, leading to limited machining process accuracy. For this purpose, the Digital-Model of a machining robot has been developed, providing a tool for virtual commissioning of the process that can be used during the process planning stage. The Multi-Body Simulation method combined with a Component Mode Synthesis have been adopted, considering flexibility of both the joints and links. On top of that, and motivated from robotic-based machining systems’ flexibility and versatility, two optimization algorithms have been developed, attempting to increase the process accuracy. A workpiece placement optimization algorithm, attempting to maximize the robot stiffness during the process acquiring knowledge from the robot stiffness maps, and a feed-rate scheduling algorithm, attempting to constrain the contour error by regulating the generated cutting forces. The capabilities and functionality of the developed model and optimization algorithms are showcased in two different case studies, with the results proving the improvements on the process accuracy after the application of the optimization algorithms. Finally, an experimental validation of the Digital-Model has been performed, to confirm the consistency between model outputs and real experimental data.