A power management integrated circuit comprises a plurality of power source circuits power received at a power supply input terminal to supply power to a plurality of power supply output terminals. A plurality of power source circuits is coupled between the power supply input terminal and the respective power supply output terminals. The power management integrated circuit comprises an active configuration memory and a communication interface with at least one terminal for uploading configuration data from outside the power management integrated circuit into the configuration memory. A control circuit controls operating parameters of respective ones of the power source circuits dependent on the configuration data from the active configuration memory. Thus, the power management integrated circuit is able to switch between different power supply states in a dynamically configurable way, without requiring external control over the configuration during switching.