A power management module comprises one or more power converter chips that are mounted on a power management package substrate. First and second electrical contacts are disposed on opposing first and second sides of the power management package substrate. The power management module can be mounted on a processor module to supply power to one or more processor chips in the processor module. In one example, the processor chip(s) are mounted on a first side of a processor package substrate and the power management module is mounted on an opposing second side of the processor package substrate. The power management module and the processor module can be centered and aligned with respect to each other or they can be offset laterally from each other. In another embodiment, the processor chip(s) are embedded in the processor package substrate.