Evergrowing demand for speed, accuracy and higher payload capacity of industrial robots has led to redefining the robot control problem. As speed and accuracy are always at loggerheads, achieving one without compromising on the other, calls for a closer examination of the physical system of the robot, to devise sophisticated control techniques that would meet the rigorous specifications. This thesis aims at modelling the dynamics of a typical industrial robot, incorporating the flexibility effects due to the mechanical compliance of the joints. Using a reduced order model of the flexible-joint system, the computed torque control method is implemented on the robot, in order to evaluate the real-time trajectory tracking performance of the computed torque controller, compared to the PID-based commercial controller of the robot. Issues related to real-time multi-axis servo control, dynamics modelling and analysis, parallel processing, electro-mechanical systems design and integration, are addressed in this thesis.