Hi first off, congrats on your new bat !
Okay, so heres the method iv used to knock in my bats for the last 2-3 years.
I would start by oiling the bat, (linseed oil) you don't need to much just a drop on your finger and start with the middle work your oil to the edges, back. (DONT GO above the stickers near the top end of your bat at the back) allegedly causes the V where your bat and handle meat to go soft and prone to cracking. So a good indicator is just where the stickers ends at the top half of your bat down to the toe, repeat for back and sides.
Then leave to rest flat for 24 hours.
Repeat process (2 coats in total) and its always better to be under oiled and than over.
Now as for Pak bats which say factory knocked in PLEASE don't listen to that. Knock your bat with a mallet for 3-4 hours. Pay attention to the edges and toe this is where bats crack the most. (Start gentle but don't be afraid to put some strength into it)
Now take your bat to the nets and with an old ball ask some friends to bowl gentle seam/ spin and see how the bat responds, if marks start appearing (SEAM MARKS) then you need another 2 hours probably knocking in, if not your bat may be ready. Even after a net with the bat i would recommend another 1hour with the bat with a mallet. (If your an opener and facing a new ball best to do 2 hours) if your a lower down batsmen, you may be able to get away with 1, but by this stage you will know whats best for your bat and how far you are then from fully knocked.
Now hopefully by this stage your bat should be ready for game time!
For long term maintenance, oil your bat before the start of every season 1 coat probably enough,store in a cool dry place at all times. (Bat covers are handy not essential) Play around with your grip, if you like octopus grip, matrix grip etc. And once you buy a bat stick with it, everyone is guilty in the past of seeing a pak player use a new bat and we go out and buy it, most of the times its the same old bat new stickers. Keep onto your bat hopefully it will get better with time when the wood opens up some more ! Good luck hope this helps any questions just reply back