Cloud resource management has been a key factor for the cloud datacenters development. Many cloud datacenters have problems in understanding and implementing the techniques to manage, allocate and migrate the resources in their premises. The consequences of improper resource management may result into underutilized and wastage of resources which may also result into poor service delivery in these datacenters. Resources like, CPU, memory, Hard disk and servers need to be well identified and managed. In this Paper, Dynamic Resource Management Algorithm(DRMA) shall limit itself in the management of CPU and memory as the resources in cloud datacenters. The target is to save those resources which may be underutilized at a particular period of time. It can be achieved through Implementation of suitable algorithms. Here, Bin packing algorithm can be used whereby the best fit algorithm is deployed to obtain results and compared to select suitable algorithm for efficient use of resources.